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Store pension information: How to secure your retirement provision!
Learn why retaining retirement information is important and how the Digital Pension Overview helps you understand your retirement savings.
Store pension information: How to secure your retirement provision!
On February 20, 2025, the annual pension information will be sent to most insured people in Germany. Dirk Manthey from the German Pension Insurance (DRV) explains that there is no general obligation to retain pension information. However, he recommends keeping the last pension information until a new one is sent.
Prof. Michael Heuser from the German Institute for Wealth Creation and Old Age Security generally recommends storing multiple pension information in order to get a better understanding of your future pension. It is important to note that pension information is not the same as pension information. Insured persons will receive pension information from the age of 27, provided they have at least five years of contributions. From the age of 55, the pension information is replaced by the pension information every three years.
Digital pension overview as a source of information
In addition to the annual pension information, the digital pension overview was launched, which collects information about pension entitlements from various providers. Loud BMAS The information is prepared uniformly and presented clearly in order to provide an overall overview of pension entitlements.
The digital pension overview helps users to predict their expected financial situation in retirement and to check whether their retirement provision fits their individual plans. The overview can be saved and serves as the basis for advice offered by the German pension insurance and consumer advice centers.
The digital pension overview is aimed at all citizens with pension entitlements in Germany. The data from the German pension insurance will be transmitted from the age of 27. The Pension Overview Act came into force in February 2021, while the first phase of operations began in December 2022 and lasted for one year. Regular operation of the platform is scheduled to start in December 2023. All obligated pension institutions must connect to the overview by December 31, 2024. The project is EU-financed by the German Development and Resilience Fund until December 31, 2026.
For detailed information on pension information, read the article by South German newspaper.